Highlights

  • 10 of 49 rock-chip samples at West Spargoville returned more than 1.0% Li2O.
  • The top result was 2.65% Li2O in sample 26WS0006.
  • A new, untested gold-in-soil trend of about 2km has been identified, with float up to 1.20 g/t Au.
  • About 2,000m of re-oriented RC drilling is being designed, subject to approvals.

Marquee Resources Limited (ASX:MQR) has reported lithium and new gold upside at its West Spargoville Project in the Widgiemooltha area of Western Australia. The project covers about 80km² on a granted tenement, with lithium rights held in a joint venture with Mineral Resources Limited.

Lithium Rock-Chip Results

Marquee collected 49 rock-chip samples across an area of about 1.5km by 1.5km. Ten samples returned more than 1.0% Li2O, led by 2.65% Li2O in sample 26WS0006 and 2.42% Li2O in 26WS0007.

Mapped pegmatites strike northeast-southwest and dip steeply to the northwest, with several stacked bodies interpreted. Historical RC drilling was mostly directed east, which the company considers sub-optimal for this geometry. The company noted that surface sampling does not establish width, grade continuity or economic mineralisation.

New Gold Trend Identified

Marquee has identified an untested gold-in-soil trend of about 2km along a north-south structural corridor. The peak result was 1.20 g/t Au from quartz-breccia float, with other samples returning up to 0.803 g/t Au. The company notes that float does not establish the bedrock source or grade.

Newly identified small-scale historical workings and quartz veining in a structure about 1-2m wide are consistent with orogenic-style gold. The trend has never been drill-tested, and gold rights are held 100% by Marquee, outside the lithium joint venture.

Next Steps and Project Background

Next steps include completing an updated 3D geological interpretation, infill soil sampling and structural mapping on the gold trend, and re-ranking lithium pegmatite trends. About 2,000m of re-oriented RC drilling is being designed to test both lithium and gold, subject to approvals.

Lithium rights are held 75% by Marquee and 25% by Mineral Resources Limited. Marquee acquired the project in 2020 and has since carried out auger, aircore and RC drilling along with geophysics and 3D modelling.

Key Takeaways

  • Strong lithium rock-chip grades support renewed drilling at West Spargoville.
  • Re-oriented drilling aims to better test the steeply dipping pegmatites.
  • A new 2km gold trend adds a second exploration focus.
  • Drilling is needed to confirm whether economic mineralisation exists.